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A company purchased a special purpose machine on September 15 of the past year, and it was installed and ready to run on January 1
A company purchased a special purpose machine on September 15 of the past year, and it was installed and ready to run on January 1 of this year. The following costs were incurred in the purchase and installation of the machine. Determine the total cost of the machine. You must show how you calculated your number for credit. Invoice price plus sales tax $1, 270, 500 Freight costs 8, 000 Setup costs 51, 000 Costs to adjust machine to appropriate specifications 36, 000 Electrical connections 32, 000 Maintenance supplies for future use 108, 000 Cost of special foundation for machine 18, 500
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